Global benefit management

We provide full global benefit audits, data management and benchmarking services for multinational companies. This enables stakeholders to gain a full understanding of their worldwide benefit provision allowing them to manage costs.
 

 Overview

 

Our online data management system, Benefit Inventory Tool (BIT), developed by Asinta, is a secure, online portal that houses a multinational company’s local benefit plans and perquisites, with benchmarking and analysis of plans. For each country, benefit costs are broken down by benefit type and further broken down into two cost centres such as company sponsored and mandated/social program benefits. These cost centres are then even further broken down by what the employee and company each pay. BIT reports the total annual benefit costs as well as the amount as a percentage of global payroll. BIT also houses plan design details and our benchmarking analysis of the plan’s competitive and legislative character.

 

 Insights and views

 
    In or Out The big European questions for pension schemes
    1 June 2016

    ​Europe (and European regulation) lies behind many of the key challenges currently faced by UK pension schemes. The European pensions supervisory authority, EIOPA, has recently published its proposals on a common framework for transparency and risk assessment for pensions and European institutions are working on the final text of a revised IORP Directive, even as we wait for the EU referendum on 23 June. This quarter’s bulletin focuses on the impact that Europe is currently having on UK pensions and some of the possible implications if the UK were to vote for Brexit.

    Read full bulletin here

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    An update on European pensions developments
    25 February 2016

    Aside from the drama of the launch of the EU Referendum campaigns, the last few weeks have also seen two key European pensions developments. On 25 January 2016, the European Parliament voted on amendments to the revised IORP (Institutions for Occupational Retirement Provision) Directive, whilst the following day EIOPA (the European Insurance and Occupational Pensions Authority) published the results of its first stress tests into pensions. This briefing note looks at where these developments leave European pensions policy.

    Read full briefing note here

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    Jane Beverley discusses the impact of Europe on UK Pension schemes
    16 October 2015
    View our latest video by Jane Beverley​​​​​​​​​​​​​
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    EIOPA presses ahead with holistic balance sheet
    14 November 2014
    On 13 October 2014, the European Insurance and Occupational Pensions Authority (EIOPA) published a further consultation on the holistic balance sheet. A few days later, on 23 October, the European Commission issued the latest
    draft of its revised Institutions for Occupational Retirement Provision (IORP) directive. This briefing note looks at these latest developments in European pensions regulation.​
     
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    Pension Schemes Bill redefines pensions (again)
    14 July 2014

    The Chancellor’s Budget announcement of greater flexibility over retirement benefits has led to a major reinterpretation of what the word ‘pension’ means in a defined contribution context. Meanwhile, the Department for Work and Pensions
    (DWP) has been working on its own redefinition of pensions in a wider context, in the shape of the Pension Schemes Bill, which was laid before Parliament on 26 June 2014.

     

    View the briefing note

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    Global Benefit Insights - July 2013
    9 July 2013
    Welcome to our latest newsletter for multinational companies and not for profit organisations. Giving insights into topical employment benefit issues, it is aimed at Finance and HR and those who manage employee benefits internationally.
     

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    DC Pensions Bulletin - February 2012
    20 February 2012
    In this issue
     
    • Clearing of the in-trays
    • Clearing of the in-trays: speed read
    • QROPS
    • Other recent developments
    • Publications round-up
    • Dates for your diary
     


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    Will the ‘holistic balance sheet’ prove to be Solvency II by the back door?
    23 November 2011
    On 25 October 2011, the European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on its draft advice to the European Commission (EC) to help the EC’s review of the Institutions for Occupational Retirement Provision (IORP) directive. This review could have very significant implications for the funding of UK defined benefit (DB) pension schemes if it results in a funding regime similar to the Solvency II directive regime for insurers.



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    Pensions bulletin - October 2011
    13 October 2011
    In this issue
     
    • Back to work for the Pensions Minister
    • Back to work: speed read
    • Behind the scenes
    • Other recent developments
    • Publications round-up
    • Dates for your diary
     


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    Pensions bulletin - July 2011
    1 July 2011
    In this issue:
     
    • Policy focus: one year on from the Coalition’s first Budget
      Policy focus: speed read
    •  Behind the scenes
    •  Other recent developments
    •  Publications round-up
    •  Dates for your diary
     
     
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    EC calls for advice on review of IORP directive
    27 May 2011
    In April 2011, the European Commission (EC) issued a Call for Advice from the European Insurance and Occupational Pensions Authority (EIOPA) to prepare for the Commission’s planned review of the Institutions for Occupational Retirement Provision (IORP) directive.
     


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    Test-Achats: are the days now numbered for sex-specific actuarial factors?
    1 April 2011
    On 1 March 2011, the European Court of Justice (ECJ) passed judgment on the Test-Achats case. This case was widely reported in the press for its impact on insurance premiums which will need to be equal for men and women from 21 December 2012. Although it concerned insurance contracts, the case could also potentially affect UK occupational pension schemes.
     

     

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    Visit the Industry Insights page for news and views on the latest industry developments
 

 Events

 
    Maturing Gracefully: End Game Planning for Pension Schemes
    12 July 2016
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    Trustee Knowledge & Understanding (TKU) Course
    8 February 2017
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    Trustee Knowledge & Understanding (TKU) Course
    14 June 2017
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    Visit the Events area for all forthcoming Punter Southall seminars, conferences and events